Year-end hiring is a contentious issue in the world of recruitment. Many recruiters and employers insist that it’s a bad idea to hire at the end of the year when things are slowing down anyway and prefer to resume hiring in the new year. Here are 3 reasons we think that sooner is better than later.
1. Good talent doesn’t wait
You run a risky game not hiring a talented candidate as soon as possible. You may be waiting for the new year to take on new employees, but candidates aren’t. More often than not, they’re eagerly looking for new work and may jump at other offers as they come along. This means that you lose out on great talent that will be benefiting another company.
2. Finding the right candidate can take time
While sometimes there’s a perfect match between employer and employee right away, most of the time it takes a while. Rushing the recruitment process is financially risky. According to a PwC case study, hiring the wrong General Manager (just one employee) can cost your company as much as R320,000. It takes about 3 months to find the perfect candidate, so delaying until January could mean only finding your ideal fit in March. And all of that while navigating arguably the busiest time of the year.
3. Onboarding is a time-consuming process
January and February are busy months. The last thing you want is to divert precious time and resources to training when so much else needs attention. Even if your company doesn’t close over December, things tend to slow down at the end of the year. This means a gentler induction process that allows space for more in-depth training and getting to grips with the new systems. Ensuring that your new hire is fully trained and ready to go by January will let you hit the ground running in the new year.
The sooner you start taking on new employees, the sooner you’ll get quality talent ready to help you reach your business goals for the new year, giving you an edge on those waiting until after the holidays.